Hemp fiber manufacturer Sunstrand files for bankruptcy

Kentucky hemp fiber manufacturer Sunstrand has filed for bankruptcy protection in federal court.

The privately held company filed for Chapter 7 bankruptcy, a type of bankruptcy sometimes called straight or liquidation bankruptcy.

Based in Louisville, Sunstrand said it has between $100,001 and $500,000 in assets but owes more than $10 million.

Its listed creditors include Hemp Traders, a California hemp-fiber importer and wholesaler, and Nature’s Root, a Colorado company that makes CBD-infused skin-care products.

Sunstrand’s filing comes as fiber manufacturers struggle to find markets for their products and state officials complain that the hemp industry is facing “bureaucratic paralysis” because of federal inaction on CBD regulations.

The company did not share a debt-repayment plan with the court.

– Associated Press and Hemp Industry Daily

8 comments on “Hemp fiber manufacturer Sunstrand files for bankruptcy
  1. Mark Neumann on

    Unfortunately I think we will see more of this the next couple of years until the market finds its level. We have a bunch of small farmers in our area with lots of hemp but no buyers.

    Reply
    • Dave on

      How much hemp sits unused? Surely it can find a home… 80,000 uses now!
      CBD is not the ONLY reason to grow this healing plant.
      Seeds? Gimme all the seeds ya have, we will make hempseed oil (sells for 34.99 a QUART… we can make hemp milk and so much. Never put all your eggies in any one cbd basket .
      Fibre, hurd, hemp crete, paper, goodness LIGNANS… really? Dont know what to do with grow? Call me

      Reply
      • jason gray on

        I’m sure there are several people that will sell to you, I know several that will, if you are interested please reply, I know several willing sellers

        Reply
    • Brent Larison on

      Where abouts are you located? I might be able to help. Let me know how much hemp you have already available, the types of hemp(for CBD or fiber, etc), how it is currently stored, and what dollar amount you are looking for?

      Reply
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